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Wednesday, 9 December 2015

6 Points to Consider Before Buying a Brand New Home - NRIA LLC

Most home buyers think there’s no risk when you buy a brand new home, sadly this is not the case. Even with new homes a lot can go wrong. That’s why NRIA is here to alert you on the 6 points to consider before buying a brand new home.

Avoid Incomplete Developments

New home buyers get excited when they find the home of their dreams in a half-finished project and are promised a discount on quick purchase. The discount is obviously luring but such a purchase can turn out to be bad investment as it is quite possible that the whole project will never be completed. So, the smart thing is to stay away from incomplete developments.

Dodge the ‘Model Home’ Trick

Have you ever felt like you found the “perfect” property after seeing pictures of a model home? Well, you might be wrong. Model homes are a perfect example of expert marketing and sometimes never reflect the actual house. For instance, smaller furniture is used to make the rooms look big, and focus is always on positive aspects. So think and look carefully before you sign the papers.

Request Contract with Completion Clause

Nobody wants to wait months before their able to move into their newly purchased home. To avoid this set back, request the builder includes a Completion Clause in your contract. A Deposit Refund clause or Cancellation clause is equally as important to avoid losing your hard-earned cash.

Neighborhood Considerations

A rose surrounded by thorns is still just as beautiful, but a luxury home in a bad neighborhood is not. You will be amazed to know how much your home’s value depends on its neighborhood. So, don’t hesitate to delve deeper into the past, present, and future of the neighborhood while shopping around. National Realty Investment Advisors, LLC advises this to all its clients.

Speak with Other Homeowners

Planning to purchase a home in a newly-built establishment? Speak with your neighbors and other home owners who have already moved in. They will be completely unbiased and give you a true idea about the area. This way you can learn about the neighborhood, home features, and other details that come from first-hand experience.

Arrange Home Inspection

When purchasing a new house, the thought of inspection never crosses the mind of home buyers. Even if someone does mention it, most people consider it a waste of money. But it is extremely important because it will notify you of any development discrepancies and can save you from making a bad investment.

Whether you are investing in a new home or purchasing an old one, always keep an experienced agent or investment specialist by your side.

And if you are looking for an investment home in Philadelphia, be sure to visit http://nria.net/about-us/ to get acquainted with NRIA’s strategic investment strategy and start building your portfolio today.